Mesquite home to 1,500th Murphy USA location
magnoliareporter.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from magnoliareporter.com Daily Mail and Mail on Sunday newspapers.
Murphy USA Inks Agreement to Acquire QuickChek for $645 Million
EL DORADO, Ark. Murphy USA Inc. will acquire QuickChek Corp. for $645 million in an all-cash transaction. The purchase price includes expected tax benefits valued at $20 million for a net after-tax purchase price of $625 million, the company reported.
The deal is being financed with a combination of cash on hand, existing credit facilities and new debt. Murphy USA obtained committed financing from the Royal Bank of Canada.
Founded as an extension of Durling Farms in 1967, Whitehouse Station, N.J.-based QuickChek is a family-owned convenience store chain that operates 157 locations in New Jersey, New York s Hudson Valley and Long Island. It is known for its high-quality food and beverage program with a strong regional brand and customer following, and a high-volume fuel offer that is offered at 89 of its newest stores.
Convenience store company Murphy USA to acquire QuickChek for $645 million
Murphy USA Inc. , a gas station and convenience store company with 1,500 locations across the Southwest, Southeast and Midwest, announced Monday that it has agreed to acquire QuickChek in a $645 million all-cash transaction. The purchase price includes $20 million in expected tax benefits. Murphy will finance the deal using cash on hand, existing credit facilities and new debt. The Royal Bank of Canada has committed financing. QuickChek is a family-owned chain of convenience stores across northern and central New Jersey as well as the New York metro area. The company’s origins date back to 1888 with the delivery of dairy products. The deal is expected to be earnings accretive in 2022, the first full year of combined operations, and annual run rate synergies of $28 million are expected by the third year. The acquisition is expected to close in the first quarter of 2021. Murphy USA stock is up 7.5% over the l
vimarsana © 2020. All Rights Reserved.